[PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II SECTION 3, SUB-SECTION (I)]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)

26th November, 2001

Notification No. 58/2001-NT-Customs

In exercise of the powers conferred by sub-section (2) of section 20 of the Indian Stamp Act 1899 (2 of 1899) and sub-clause (i) of clause (a) of sub-section (3) of Section 14 of Customs Act, 1962 (52 of 1962) and in supercession of the Notification of the Government of India in the Ministry of Finance (Department of Revenue) No.55/2001-NT-Customs, [S.O.1060(E)] dated the 25th October, 2001 the Central Government hereby:-

(a) prescribes for the purpose of calculating stamp duty under the Indian Stamp Act, 1899 (2 of 1899)

(b) determines for the purposes of section 14 of the Customs Act, 1962 (52 of 1962) in so far as these relate to imported goods.

that the rate of exchange of conversion of each of the foreign currency specified in the column (2) of Schedule I and Schedule II appended hereto into Indian Currency or vice-versa shall, with effect from the 1st December, 2001 be the rate mentioned against it in the corresponding entry in column (3) thereof.

Schedule – I

S.No.

Foreign Currency

Rate of Exchange of One Unit of Foreign Currency Equivalent to Indian Rupees

(1)

(2)

(3)

1.

Austrian Schilling

3.10

2.

Australian Dollar

25.05

3.

Canadian Dollar

30.20

4.

Danish Kroner

5.70

5.

Deutsche Mark

21.75

6.

Dutch Guilder

19.30

7.

EURO

42.55

8.

French Francs

6.50

9.

Hong Kong Dollar

6.20

10.

Norwegian Kroner

5.40

11.

Pound Sterling

68.35

12.

Swedish Kroner

4.55

13.

Swiss Franc

29.15

14.

Singapore Dollar

26.25

15.

US Dollar

48.30

Schedule – II

S.No.

Foreign Currency

Rate of exchange of 100 units of foreign currency equivalent to Indian rupees